IMF Grants $1.4 Billion Loan to El Salvador
Written by Ohris M. Greyoon, Blockchain & Crypto Expert
Source: Coinmarketcap
Updated: Dec 20 2024IMF Loan Details: The International Monetary Fund has approved a $1.4 billion loan to El Salvador, aimed at supporting the government's reform initiatives and enabling access to additional funds from other financial institutions.
Cryptocurrency Policy Changes: As part of the loan conditions, El Salvador will limit its cryptocurrency initiatives, making Bitcoin acceptance optional in the private sector, mandating tax payments in US dollars, and reducing government use of the Chivo crypto wallet.
About the author
Ohris M. Greyoon
Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.
